Roche Acquires Early-Stage Cancer Drug In US$778mn Deal

In keeping with Roche’s commitment to developing cancer therapies, the company has acquired worldwide exclusive rights to an early stage cancer therapy that is being co-developed by Belgian biopharmaceutical firm Thrombogenics and Swedish antibody developer BioInvent. Under the agreement the two companies will share an upfront payment of EUR50mn (US$78mn) plus up to EUR450mn (US$700mn) based on reaching pre-agreed milestones. The two companies will also receive royalties from eventual product sales, with a 60% share for Thrombogenics and 40% going to BioInvent. The two original developers have retained a co-promotion option covering the Benelux, Nordic and Baltic